Honestly, I don't see that as an argument against a fixed block reward.
It is true that hashing power will go up massively (moore's law and all that, plus there is the specialization using ASICs), but the reward is fixed (50 BTC every x minutes). It doesn't matter how much or how little hashing power is added to the network, the rate of coin generation and therefore its effect on the global market would still be capped.

I'd say the main benefit is that it would remove some of the uncertainty around transaction fees being enough. Now we are left to wonder if transaction fees will be enough to compensate for the declining block rewards. If not, it will cause hashing power to drop (because of the cost of electricity, et cetera) and if it drops too much a 51% attack might become feasible and more profitable.

So as it turns out, mt gox support refuses to provide any answers. 
All they do is use (probably standard) replies referring me to their verification process.

I guess to get real answers I'd have to sue ? which seems excessive.
Has anyone gone down that route ? being in the EU myself it's probably easier to go via the french owner ?


In any case: word of warning to anyone considering using mtgox: become verified before putting any money or coins in there !
If you're not, they can use that as justification to freeze your account at any time. no other reason required, no way to unfreeze it without.

I'll be brief

yes, it's a premine and yes, it matters.

Your whole analysis is moot until these assumptions become true (if ever)
anyone buying into ripple today runs a considerable additional risk because today, it's not open sourced, not decentralized and not verified.

I think it's caused by the volume of cash and transactions they're shoving through.
It's from one account, to many seemingly random SEPA accounts all over the place, while they're not registered as a payment processor or bank.
I wouldn't be surprised if this kind of thing raises red flags with the authorities and fraud prevention.

on a brighter note, my last withdrawal got through after just 15 days
requested it on 4 april, got through on 19 april.

Fully agree with that, at this point that's pretty much what I plan to do with my remaining coins (those not stuck in mtGox anyway)
the market has matured very nicely in the past years so there is plenty of choice now.

I doesn't solve my mtgox woes though. there is (for me) a sizeable amount left there. I got too exited when the price went +100

so, finally got a reply, and it was entirely besides the point

I've asked again.
if being verified is mandatory or can be made mandatory at a whim, they need to put on the mtgox site more clearly. Now it is misleading at best.

now it has:

and

I stayed within the usage of level 0.

my last 3 successful SEPA withdrawals from mtgox took each about 14 days.

when I asked if this was normal, mt gox support said there is a queue for withdrawals using SEPA.
they didn't explain why it takes so long though.

I still have one open that didn't arrive yet. I started it 15 days ago, its status is "processed" for at least a week now.

can't speak for USA, but I'm not polish, I think the ~14 day delay affects all europeans.

If you are going to use mtgox, I would very much recommend to become verified before sending any sizable amount of money to them.

yeah, I'm fine with banks and such doing verification.
my bank and telco are in my local jurisdiction and have to follow the EU directives on privacy, data protection, etc.
Plus, if they get hacked and I lose money as a result, they're obligated to refund the cost.
They can even get fined if they don't take the necessary precautions.

my last 3 SEPA withdrawals from mtgox took each about 14 days.

when I asked if this was normal, mt gox support said there is a queue for withdrawals using SEPA.
they didn't explain why it takes so long though.

Well, I'm pretty sure that when I signed up they didn't have this in the ToS, certaintly not the bit about "give us enough personal information to make any online crook salivate or lose the money we happily accepted when you sent it"
I'm not even sure they had a ToS at that time
On the verification page itself, it states that you can ask to become verified in order to improve security, not that it's mandatory.

I think you will agree it's a bit hypocritical to first take my money and allow withdrawals as well (to a verified SEPA bank account no less), only to spring this extra requirement now that the market slows down ?
Why allow bitcoin deposits, but not withdrawals ?
Hence my questions about the process itself. what else will they ask once I pass this hurdle ? They can add any requirement they wish at this point.

Sure, I could just hand it all over and trust them to not fuck it up.  
The problem here is I don't like the risk, their track record isn't so great (my email was leaked in the previous hack. I still get targeted phishing mails)

aha, so there is a 4h wait
I thought it was a post count

anyway, hello everyone.
I'm an old time lurker and bitcoiner, signed up here today to gripe about mtgox. 

crap

did any of you in the end get verified ?

It's all signed and counter-signed and counter-counter-signed etc with cryptographic functions and it's part of one huge "chain", acting as some kind of a general ledger, where each block and each transaction in each block is signed such and so.

You can generate any transaction you want, but as long the (heavily signed) blockchain doesn't agree with you that the coins in that transaction exist and you own them, noone else will accept them as such.

the cryptographic functions behind it are so far unbroken. I'm told the math behind is is beautiful
trying to break those with the only known method (brute force) with current computing power would take more time than the universe has existed so far.
building a (conventional) computer to crack it fast enough would require more matter than the earth contains.

how much do you earn per Mhash at current difficulty ?

I think my card can do ~200Mhash

Greetings,
old time lurker here.

I've been with mt.gox since 2011 ish and sold most of my stash then.
Recently I started dumping my remaining coins. I left a some cash & coins to play the market (quite badly so far, but hey ) + got some left to dump in a secure wallet.

So far, I managed to do all this without being verified.
I'm glad for that, not that I'm doing anything dodgy, I just don't trust them with personal information of that kind (what they ask is enough to impersonate me anywhere. what if they get hacked again?)

As of today my account is locked. I'd hate losing what is still in there  
I sent a ticket asking for the restrictions to be unlocked.

Does anyone know what are my chances are here ? anyone in a similar situation ?
Can they even do this legally ? It's essentially blackmail - I either lose the money & coins I put there, or I give them information that could be used quite badly if it falls in the wrong hands.

How many people here got verified with them ? is the process smooth ? do they ask more information after sending the documents ? (like mother's maiden name, etc)
How much would you trust them ?
sadly with the other exchanges the situation is similar (I've tried btc-e + bitinstant. not a smooth operation)